Equinor Enters 10-Year Collaboration Agreement With Aibel
Norwegian energy giant Equinor has entered into a ten-year strategic collaboration agreement with the offshore engineering and construction firm Aibel.
Equinor said that the ten-year agreement aimed to ensure predictability, which will be important to both parties in times of many great and important opportunities.
For years, Aibel has been one of Equinor’s key collaboration partners. As an example, they were awarded most of the contracts for further development of mature fields on the Norwegian continental shelf in 2020 and 2021. Equinor has contributed to a major share of Aibel’s earnings, and the companies have for several years worked on a joint improvement effort to strengthen safety and efficiency in the projects.
“Equinor has clear ambitions for the energy transition, and we have a high activity level in oil and gas, renewables, and low-carbon technologies. Through this strategic collaboration agreement, we create security for both parties, allowing Aibel to get more assignments, while we know that we will be able to deliver our projects with the high quality that Aibel is known for and we depend on to succeed,” says Geir Tungesvik, EVP for Projects, Drilling, and Procurement.
Aibel is Equinor’s key supplier of maintenance and modification services on offshore and onshore installations. The framework agreement with Aibel on these services was recently extended to March 2026.
The CEO of Aibel, Mads Andersen, sees the new collaboration agreement as an important step to further develop the companies’ joint improvement agenda, not least in terms of safety. At the same time, he is proud of Aibel being the first company with which Equinor is signing such a strategic agreement.
“Aibel and Equinor have for a long time had a close and good collaboration on the NCS, and the new collaboration agreement forms the basis for a long-term continuation of this relationship. The agreement offers Aibel predictability and a better foundation for long-term planning and competence development with less vulnerability to market fluctuations. I am therefore convinced that the agreement will contribute to better, safer, and not least more cost-effective deliveries benefitting both parties,” says Andersen.
Aibel has, during the past years, established itself as one of the leading suppliers of offshore converter platforms to be delivered to the Dogger Bank A, B, and C offshore wind farms in the UK. In addition, Aibel has several times been assigned to perform hook-up of high-voltage systems offshore, such as electrification of Johan Sverdrup and Wisting.
“I am very pleased that we have arrived at this strategic collaboration agreement, and we strongly believe that Aibel can deliver on the ambitious improvement agenda that the companies have formed together. Aibel can provide many of the services we need. We also think it is positive to make a stronger commitment to a major Norwegian supplier, which is present in large parts of the country where we also have activities. This collaboration will continue to create ripple effects in Norway,” says chief procurement officer Mette H. Ottøy.
The companies will keep pursuing opportunities for standardization and simplification in both offshore wind and electrification of oil and gas installations. Across all activities, Equinor and Aibel are focusing on raising awareness of climate change in the fabrication phase and supply chain and reducing emissions.
The companies also have a joint ambition of making the activity in north Norway more robust in a long-term perspective.
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